QS 6-26B (Algo) Estimating Inventories-gross profit method LO P4 Confucius Bookstore's Inventory is destroyed by a fire on September 5. The following data for the current year are available from the accounting records Beginning inventory, January January i through Seeber purchase (net) Jarwary 1 through September Sales (net) Current year's estimated gross profit rate Estimate the cost of the inventory destroyed 121. 14.00 5.620, 230 000 Beginning wory Netcost of goodspachand Cost of goods available for sale Linated cost of ads sold Estimated September 5 Inventory destroyed 5 20.000